Last week, South Korea and the United States agreed to lift restrictions on Seoul's use of solid fuel, or rocket fuel.
The breakthrough comes five decades after the restrictions were imposed in 1979 to stop an arms race in the region, and it now finally gives South Korea the green light to vastly improve its missile technology, as well as unlock commercial possibilities in space technology.
Today we explore the potential of rocket fuel for South Korea and whether it could provide a new engine for economic growth.
For this, we have joining us today: Dr. JR Reagan, CEO of IdeaXplorer Global, joining us from Daejeon. How are you today?
We also connect with Dr. Graham Ong-Webb, who joins us from Singapore's Nanyang University.
1. Dr. Reagan: What exactly is solid fuel or rocket fuel and what advantages does it have to other fuel sources?
2. Dr. Ong-Webb: Why did the U.S. restrict South Korea's use of rocket fuel over the past four decades and why are they lifting it now?
3. Dr. Ong-Webb: How has the restriction limited South Korea from boosting its missile capacity, especially in terms of deterring North Korea, and how do the two Koreas' missile technologies compare?
4. Dr. Reagan: Now, all South Korean companies, research institutes and nationals will be free to research, develop, produce and own not only liquid fuel but also solid fuel and various types of hybrid space rockets, without any restrictions: What kind of commercial opportunities do you see opening up?
5. Dr. Ong-Webb: Do you think this could be a chance for South Korea to develop its own version of Space X?
6. Dr. Reagan: How important is the space industry right now? Will more and more countries venture into outer space technology as a way of growing their economies?
7. Dr. Ong-Webb: Do you also see a commercial space race happening? And to you as well: how important is the space industry these days?
8. Dr. Reagan: How do you think South Korea should build a competitive space industry? Could U.A.E.'s model be an example worth following?
This is where we'll have to wrap up the discussion. Dr. JR Reagan, CEO of IdeaXplorer Global and Dr. Graham Ong-Webb of Nanyang Technological University. Thank you for joining us